Total Sells 10% Interest in Interconnector (UK) Limited
Total sells a 10% interest in Interconnector (UK) Limited owned by its subsidiary Total Midstream Holding UK Ltd to Caisse de Depot et Placement du Quebec. Interconnector (UK) Limited operates the cross-channel gas pipeline linking the United Kingdom to Belgium.
Total’s capacity rights in the Interconnector will nevertheless remain unchanged.
Total Exploration & Production in the United Kingdom
Total is one of the leading oil and gas producers on the UK Continental Shelf, with equity production of over 280,000 barrels of oil equivalent per day in 2006. Based in Aberdeen, Scotland, Total EP UK Limited operates a cluster of fields in the Alwyn Area of the northern North Sea, the Elgin and Franklin fields in the Central North Sea and the Otter field northeast of the Shetland Islands. Total also operates the Saint Fergus gas terminal and a gas transportation system, and has interests in a number of non-operated fields.
The Group recently launched the development of the Jura gas-condensate field in the Alwyn Area, with production expected to start in second-quarter 2008.
Total is also continuing exploration in the UK sector of the North Sea with the recent Tormore discovery. Recent discoveries have lifted its proved and probable reserves in the United Kingdom to over one billion barrels of oil equivalent in 2006. Developing the new fields will help to extend production life, notably in the Alwyn Area, and help to maximize recovery of the United Kingdom's oil and gas resources.
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Company: Interconnector (UK) Ltd. more info
- Total Sells 10% Interest in Interconnector (UK) Limited (Oct 05)
- Lloyd's Register Wins Renewal, Extension of Interconnector Contract (Feb 15)
- Gas Flows Through Interconnector Change Direction (Aug 02)